Carlyle and PayPal back eCommerce Startup Shopware

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Carlyle-and-PayPal-back-e-commerce-startup-Shopware

Shopware, a digital commerce software solutions provider in the DACH region, has raised $100 Million in funding from Carlyle and PayPal.

This is the first outside funding that Shopware has ever raised, the venture having been bootstrapped since it was founded in 2000. Founders Sebastian and Stefan Hamann will retain a significant majority stake in the business and remain co-CEOs of the company.

Carlyle and PayPal’s cash will help drive Shopware’s international expansion and the development of new products.

Stefan Hamann said, “As a business, we are proud to have been profitable from day one, and are excited to work closely alongside Carlyle and PayPal to build on Shopware’s positioning in the long-term.”

Sebastian Hamann added, “The past few years have accelerated the need for an open-source approach that provides outstanding shopping experiences for customers, and we are poised to further benefit from this growth opportunity.”

“We’re looking forward to working with Carlyle and PayPal – two companies with strong expertise in digital commerce – on the next stage of our journey.”

Michael Wand, Managing Director and Co-Head at Carlyle Europe Technology Partners, commented, “Shopware, a company 100% bootstrapped prior to this investment, is ideally suited to CETP’s strategy of partnering with ambitious, founder-led technology companies.”

“We were attracted to the company’s highly flexible omnichannel platform, its strong momentum in the underserved mid-market merchant segment, and the entrepreneurial drive of the two co-founders.”